证券研究报告 | 2025年07月22日 电力设备新能源行业点评 固态产业应用加速推进，关注低空经济博览会进展 行业研究·行业快评 电力设备 投资评级：优于大市（维持） 证券分析师： 王蔚祺 010-88005313 wangweiqi2@guosen.com.cn 执证编码：S0980520080003 证券分析师： 李全 021-60375434 liquan2@guosen.com.cn 执证编码：S0980524070002 国信电新观点：近期固态电池产业呈现加速发展态势：电池端：1）欣旺达计划 2026 年推出第一代全固态 电池产品，目前在 320Wh/kg 和 360Wh/kg 产品上已经实现小批量量产；2）蜂巢能源将在 2025 年量产第一 代的半固态能量密度为 300Wh/kg 的软包电池；3）孚能科技已积累广汽、东风、三一等多领域的固态电池 头部客户资源，计划于 2025 年推出并交付第一代硫化物全固态电池；车端：近期上汽名爵 4 沟通会上公 司总经理表示 MG4 车型预计定价在 10 万级别，并将搭载半固态电池方案；其他应用场景：2025 国际低空 经济博览会将于 7 月 23 日至 26 ...

周二早盘，A股三大指数高开后一度走弱，午前又在"中字头"基建股的带动下集体拉升。截至午间收盘，上证指数报3568.78点，涨0.25%；深证成指、创 业板指分别涨0.56%、0.69%。沪深北三市半日成交额11589亿元，较上个交易日同期放量563亿元。 雅下水电概念持续活跃 板块内多只个股2连板 在雅鲁藏布江下游水电工程（下称"雅下水电工程"）正式开工的提振下，早盘，五新隧装、基康技术、恒立钻具三家基建产业链公司收获第二个"30cm"涨 停；铁建重工、筑博设计、深水规院连续两日"20cm"涨停；中国能建、保利联合、中国电建、高争民爆等多只个股2连板。 | 五新隧装 | 82.27 29.99% 18.98 | | | --- | --- | --- | | 835174 融 | | | | 恒立钻具 836942 融 | 33.26 29.97% | 7.67 | | 基康技术 830879 | 35.33 29.99% | 8.15 | 昨日晚间，中国电建披露上半年经营情况，2025年1月至6月，公司新签合同金额总计6866.99亿元，同比增长5.83%。能源电力业务新签合同金额4313.88 亿元，同比 ...

Group 1 - Jiangte Electric plans to change its control rights, with stock suspension starting from July 22, expected to last no more than 2 trading days. Additionally, its subsidiary Yichun Yinli will suspend operations for equipment maintenance for approximately 26 days, which is not expected to significantly impact annual performance [3] - Core Technology intends to sell 100% equity of its subsidiary Zhongshan Core Automation Technology for 156 million yuan and transfer related assets for a total of approximately 82 million yuan. The company aims to optimize its business structure by consolidating resources [4] - Fengmao Co. plans to invest no more than 1.5 billion yuan to establish an intelligent chassis thermal control system production base in Yuyao, while terminating the project for a parts production base in Jiaxing, which had not yet commenced [5] - Haopeng Technology's controlling shareholder voluntarily extends the lock-up period for pre-IPO restricted shares by 12 months, reflecting confidence in the company's future development [6] - Good Products has been involved in a share transfer dispute, with the court accepting the case involving 996 million yuan. The outcome may introduce uncertainties regarding the control transfer of its major shareholder [7] Group 2 - Haitan Ruisheng expects a net profit increase of 607.01% to 960.52% for the first half of 2025, driven by rapid growth in AI technology and its applications [9] - GeKao Micro anticipates a revenue growth of 22.27% to 36.51% for the first half of 2025, supported by the recognition of its high-pixel chip integration technology [10] - Jinghe Integration forecasts a net profit increase of 39.04% to 108.55% for the first half of 2025, benefiting from improved industry conditions and increased product sales [11] - Best Beauty expects a net profit increase of 100.07% to 168.38% for the first half of 2025, attributed to significant profit growth in trade products [12] - Juzan Optoelectronics reports a net profit growth of 3.43% for the first half of 2025, with a proposed stock dividend of 4.5 shares for every 10 shares held [13] - Changshu Bank reports a net profit of 1.969 billion yuan for the first half of 2025, a year-on-year increase of 13.55% [14] - Keda Li anticipates a net profit increase of 15.73% to 26.53% for the first half of 2025, driven by the growth in new energy vehicle sales [15] - *ST Sitong reports a net loss of 16.201 million yuan for the first half of 2025, despite a revenue increase of 75.88% [16] Group 3 - Gaode Infrared has signed contracts totaling 685 million yuan for overseas market orders, representing 25.59% of its projected 2024 revenue [18] - Dajin Heavy Industry has signed a contract worth approximately 430 million yuan for offshore wind farm foundation supplies, accounting for 11.38% of its projected 2024 revenue [20] - Dongfang Precision has established a strategic partnership with Leju Robotics, focusing on embodied intelligent robots [21] - Chuling Information's subsidiary has signed a framework contract with China Mobile for a total amount of 421 million yuan, involving intelligent network integration products [22] - Hongxin Technology has entered into contracts with a leading domestic flying car company for component development and procurement [23] Group 4 - Dongcai Technology's chairman plans to reduce his stake by up to 0.43% due to personal financial needs [25] - Tianchuang Fashion's shareholder Visions plans to reduce its stake by up to 1% through centralized bidding [26]

| 证券代码：001283 | 证券简称：豪鹏科技 公告编号：2025-055 | | --- | --- | | 债券代码：127101 | 债券简称：豪鹏转债 | 深圳市豪鹏科技股份有限公司 关于控股股东、实际控制人自愿延长限售股份锁定期的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 （1）股东名称 1：潘党育，现任公司董事长、总经理。 （2）股东名称 2：深圳市豪鹏国际控股有限公司 注册地址：深圳市龙岗区平湖街道力昌社区平龙东路 43 号东都雅苑公寓楼 408 注册资本：1000 万元人民币 法定代表人：潘党育 经营范围：一般经营项目是：投资兴办实业（具体项目另行申报）；移动互 联网软硬件的技术开发、技术服务、技术咨询、技术转让；大数据智能设备的研 发及技术服务；电子产品、数码产品的销售；企业管理咨询；计算机系统集成； 创业投资咨询业务；经营电子商务；供应链管理；投资咨询；国内贸易；从事货 物及技术进出口业务。 深圳市豪鹏科技股份有限公司（以下简称"公司"）于近日收到控股股东、 实际控制人潘党育先生出具的《关于自愿延长限售股份锁定期的承诺》，潘党 ...

Core Viewpoint - The legal opinion letter confirms the legality and validity of the procedures, qualifications, and voting results of the 2025 First Extraordinary General Meeting of Shenzhen Haopeng Technology Co., Ltd. [1][8] Group 1: Meeting Procedures - The meeting was convened by the company's second board of directors and publicly announced on July 3, 2025 [3][4] - The meeting was held on July 18, 2025, using a combination of on-site and online voting methods [4][5] - The meeting's time, location, and content were consistent with the prior notification [4][8] Group 2: Attendance and Qualifications - A total of 152 shareholders (or their agents) attended the meeting, representing 27,184,030 shares, which is 36.5337% of the total voting shares [5][8] - The qualifications of the attendees, including directors, supervisors, and senior management, were verified and deemed valid [5][8] Group 3: Voting Procedures and Results - All proposed resolutions were reviewed and voted on in accordance with legal and regulatory requirements [8] - The following resolutions were passed with significant support: - The employee stock ownership plan draft received 99.8177% approval [5] - The management measures for the employee stock ownership plan received 99.8210% approval [5] - Authorization for the board to handle matters related to the employee stock ownership plan received 99.8195% approval [5] - Amendments to the company’s articles of association received 99.8281% approval [6] - The voting results were confirmed through a combination of on-site and online voting systems [8]

Group 1 - The company held its first extraordinary general meeting of shareholders in 2025, with a total share capital of 80,610,011 shares, of which 6,201,862 shares were in the repurchase account, leaving 74,408,149 shares eligible for voting [1][2] - A total of 152 shareholders and their proxies attended the meeting, representing 27,184,030 shares, which is 36.53% of the total voting shares [2][3] - The meeting was presided over by the chairman, and the procedures for convening and voting complied with relevant laws and regulations [3][17] Group 2 - The voting results showed that 27,104,230 shares were in favor of the proposals, accounting for 99.82% of the valid votes cast [3][4] - Among minority investors, 4,509,430 shares voted in favor, representing 98.91% of the valid votes from this group [4][5] - The proposals were approved by non-related shareholders, with related shareholders abstaining from voting [4][6] Group 3 - Legal opinions were provided by Beijing Guofeng (Shenzhen) Law Firm, confirming that the meeting's procedures were in accordance with legal and regulatory requirements [17][18] - The company will keep the legal opinions and other relevant documents for future reference [18]

Core Viewpoint - The company has revised its governance structure by abolishing the supervisory board and establishing employee representative directors, which was approved in the first extraordinary shareholders' meeting of 2025 held on July 18, 2025 [1][3]. Group 1: Governance Changes - The company has canceled the supervisory board and set up employee representative directors as part of its governance structure adjustment [1]. - The board of directors will consist of nine members, including one employee representative director, elected by the employee representative assembly [3]. - The company has appointed Ma Yanjun as the employee representative director, whose term aligns with the second board of directors [3]. Group 2: Resignation of Directors - Non-independent director Zhou Fang has resigned from his position but will continue as the head of the sales management department [2]. - Vice General Manager Guo Yujie has also resigned from his role but will remain a director and Chief Product and User Officer [2]. - Both resignations will not affect the normal operation of the company, and their reports are effective upon delivery to the board [2][3]. Group 3: Compliance and Shareholding - Zhou Fang and Guo Yujie each hold 5,400 shares in the company and will manage their holdings according to relevant regulations [2][3]. - Both individuals have fulfilled their public commitments and will ensure proper work handover [2][3]. Group 4: Background of New Director - Ma Yanjun, the newly elected employee representative director, is a female with a master's degree and has no shares in the company [6]. - She has no connections with the company's actual controllers or other directors and has not faced any penalties from regulatory authorities [6].

深圳市豪鹏科技股份有限公司 | 证券代码：001283 | 证券简称：豪鹏科技 | 公告编号：2025-054 | | --- | --- | --- | | 债券代码：127101 | 债券简称：豪鹏转债 | | 关于债券持有人可转换公司债券持有比例变动达到 10%的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、可转换公司债券发行上市及配售情况 经中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意 深圳市豪鹏科技股份有限公司向不特定对象发行可转换公司债券注册的批复》 （证监许可〔2023〕1997 号）同意注册，深圳市豪鹏科技股份有限公司（以下简 称"公司"）于 2023 年 12 月 22 日向不特定对象发行了 1,100.00 万张可转换公 司债券，债券期限为 6 年，每张面值为人民币 100 元，募集资金总额为人民币 110,000.00 万元。经深圳证券交易所同意，上述可转换公司债券于 2024 年 1 月 11 日起在深圳证券交易所挂牌交易，债券简称"豪鹏转债"，债券代码"127101"。 注：本表数据合计数与各分项数值之 ...

| 证券代码：001283 | 证券简称：豪鹏科技 | 公告编号：2025-053 | | --- | --- | --- | | 债券代码：127101 | 债券简称：豪鹏转债 | | 深圳市豪鹏科技股份有限公司 关于公司非独立董事及副总经理辞任暨选举职工代表董事的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市豪鹏科技股份有限公司（以下简称"公司"）于 2025 年 7 月 18 日召 开 2025 年第一次临时股东大会审议通过了《关于修订<公司章程>并办理工商变 更登记的议案》，根据《中华人民共和国公司法》《深圳证券交易所上市公司自 律监管指引第 1 号——主板上市公司规范运作》等法律法规、规范性文件及《公 司章程》的相关规定，公司治理架构调整，取消监事会并设立职工代表董事。另 外，鉴于上市公司董事会中兼任公司高级管理人员以及由职工代表担任的董事人 数总计不得超过公司董事总数的二分之一，因此公司非独立董事、副总经理辞任， 同时公司召开职工代表大会选举职工代表董事。具体情况如下： 一、非独立董事辞任情况 公司董事会于近日收到公司非独立董事周方先 ...

| 证券代码：001283 | 证券简称：豪鹏科技 | 公告编号：2025-052 | | --- | --- | --- | | 债券代码：127101 | 债券简称：豪鹏转债 | | 深圳市豪鹏科技股份有限公司 2025 年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要提示： 1．深圳市豪鹏科技股份有限公司（以下简称"公司"）于 2025 年 7 月 3 日 在巨潮资讯网（www.cninfo.com.cn）及《证券时报》《证券日报》《上海证券报》 《中国证券报》刊登了《深圳市豪鹏科技股份有限公司关于召开 2025 年第一次 临时股东大会的通知》（公告编号：2025-049）； 2．本次股东大会未出现否决议案的情形； 3．本次股东大会不涉及变更前次股东大会决议； 4．根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指 引第 9 号——回购股份》的有关规定，上市公司回购专用账户中的股份不享有股 东大会表决权。截至本次股东大会股权登记日，公司总股本为 80,610,011 股， 回购专用账户中的股份数量为 6,20 ...